Medallion Metals has bought this farmland to offset the land it wishes to clear for its Ravensthorpe Gold Project. Photo: LJ Hooker Hopetoun.
Medallion Metals (MM8) is spending more than $1million to buy 258 hectares of freehold land as an environmental offset for its Ravensthorpe Gold Project.
The company expects this to fulfill its statutory requirements under WA and Commonwealth environmental law.
Medallion issued a statement on Tuesday saying establishment and operation of an underground mine would result in clearing approximately 70-80 hectares of native vegetation.
“As a result, the Company is required to offset impacts to these species and their habitats,” it says.
“The offset blocks are located within 10 kilometres of the proposed development at RGP and extend over a total area of approximately 258 hectares, comprising predominantly arable farmland and some remnant native vegetation.
“The offset blocks directly adjoin the Ravensthorpe Range, a significant tract of largely undisturbed native vegetation with similar ecological values to the proposed disturbance at RGP.”
According to the statement, the Company’s due diligence established that the offset blocks would meet offset requirements and had the ability to meet advanced offsets for future project growth or new projects.
“Medallion’s offset strategy will be built around the re-establishment of native vegetation across the extent of the offset blocks,” it says.
“The Company will work closely with various stakeholders including Indigenous groups to achieve this outcome.”
Medallion now intends to submit all additional information required to progress the Ravensthorpe Gold Project approval under the relevant Commonwealth Act, and expects to have a decision under that act before the end of 2025.
The sale of the two blocks, known as Ravensthorpe Retreat is expected to settle by September 25.
The address is Lot 344, Hopetoun-Ravensthorpe Road.
